Equities analysts expect that Manulife Financial Co. (NYSE:MFC) (TSE:MFC) will post $0.46 earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Manulife Financial’s earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.50. Manulife Financial posted earnings per share of $0.47 in the same quarter last year, which suggests a negative year over year growth rate of 2.1%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, February 7th.
According to Zacks, analysts expect that Manulife Financial will report full-year earnings of $1.76 per share for the current fiscal year, with EPS estimates ranging from $1.72 to $1.79. For the next fiscal year, analysts anticipate that the business will post earnings of $2.04 per share, with EPS estimates ranging from $1.95 to $2.13. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Manulife Financial.
Several analysts recently weighed in on the stock. ValuEngine downgraded shares of Manulife Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Tuesday, January 2nd. Finally, Morgan Stanley lifted their target price on shares of Manulife Financial from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $25.00.
Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its holdings in Manulife Financial by 15.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 84,067 shares of the financial services provider’s stock valued at $1,576,000 after purchasing an additional 11,353 shares during the last quarter. Barometer Capital Management Inc. purchased a new position in Manulife Financial in the 3rd quarter valued at approximately $11,093,000. BB&T Corp boosted its position in Manulife Financial by 36.6% in the 3rd quarter. BB&T Corp now owns 54,202 shares of the financial services provider’s stock valued at $1,100,000 after buying an additional 14,525 shares during the period. Bridgewater Associates LP purchased a new position in Manulife Financial in the 2nd quarter valued at approximately $7,131,000. Finally, Becker Capital Management Inc. purchased a new position in Manulife Financial in the 3rd quarter valued at approximately $256,000. Hedge funds and other institutional investors own 46.51% of the company’s stock.
Shares of Manulife Financial (NYSE:MFC) traded up $0.13 during midday trading on Wednesday, hitting $21.81. 2,532,620 shares of the stock were exchanged, compared to its average volume of 1,735,580. The firm has a market cap of $42,901.36, a P/E ratio of 15.58, a P/E/G ratio of 1.12 and a beta of 1.33. Manulife Financial has a fifty-two week low of $16.62 and a fifty-two week high of $21.82.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Tuesday, November 21st were issued a $0.1606 dividend. The ex-dividend date of this dividend was Monday, November 20th. This represents a $0.64 annualized dividend and a yield of 2.95%. Manulife Financial’s dividend payout ratio (DPR) is presently 45.71%.
About Manulife Financial
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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